30 acres of prime EBD lands transferred for $200
Another NICIL deal…
Listed as Life 1 Pharms Inc. Managing Director, Avalon Jagnandan.
Kaieteur News – More details are emerging regarding the National Industrial and Commercial Investments Limited’s (NICIL) giveaway of prime state lands situated at Peter’s Hall, East Bank Demerara (EBD).
In this deal, a total of 30 acres were transferred into the hands of one individual for merely G$200 by two companies – Life 1 Pharms Inc. and A-Z Pharmaceutical Medical Supplies and Equipment Inc. – registered locally here in Guyana.
Life 1 Pharms Inc. & A-Z Pharmaceutical Medical Supplies and Equipment Inc.
From documents seen by this publication, Life 1 Pharms Inc. is owned and controlled by Avalon Jagnandan, said to be the Managing Director. On his Facebook profile, Jagnandan is listed also as the Administrative Manager at the Guyana Gold and Diamond Miner Association (GGDMA).
The company’s address is stated as 73 Grove Public Road, EBD and was registered on March 1, 2017.
Jagnandan was leasing, from NICIL, three plots of land: ‘A17’, ‘A18’ and ‘A19’, a total of 15 acres situated at Plantation Peter’s Hall, EBD.
As per the lease agreement, seen by this publication, Jagnandan agreed to lease the lands annually for US$11,700 plus taxes for a 20-year period. That agreement was signed on May 17, 2018.
Later on, Jagnandan then transferred the three plots of land to one individual, Jianfen Yu, whose address was listed as Lot 43 Wellington Street, Georgetown.
Listed as A-Z Pharmaceutical Medical Supplies and Equipment Inc. Director and Secretary, Eddie Doolal.
Per the Deed of Assignment of Lease Agreement, made on January 28, 2020, the lands were transferred to Yu for G$100.
It said “…for and in consideration of the sum of G$100 (one hundred Guyana dollars), the mutual covenants contained herein and other good and valuable considerations, the receipt and sufficiency…” of the land.
With regards to the other company, A-Z Pharmaceuticals is owned and controlled by Eddie Doolal, who is listed as the Director and Secretary. The company address is stated as 1321 EE Eccles, EBD and the business was registered on March 1, 2020.
Doolal leased from NICIL three plots of land; ‘A7’, ‘A8’ and ‘A20’, a total of 15 acres situated too at Plantation Peter’s Hall, EBD.
Like Jagnandan, he agreed to lease the lands annually for US$11,700 plus taxes for a 20-year period. That agreement was signed on May 17, 2018.
Later on, Doolal then transferred the three plots of land to Jianfen Yu. Per the Deed of Assignment Of Lease Agreement, made on January 28, 2020, the lands were transferred to Yu for G$100.
Identical deals
It must be noted that there are several glaring similarities between the two land deals.
Both companies were registered on the same day – March 1, 2017.
The lease agreement details for both companies are also identical – both agreed to pay US$11,700 plus tax in lease fees annually for a 20-year period, both received 15 acres in total and both agreements were signed on the same day, May 17, 2018.
It should be noted too that both companies transferred its lands to the same individual, on the same day – January 28, 2020 and for the same price of G$100. Further, both Deeds of Assignment of Lease Agreements are also identical as well.